Why Your Property Isn’t Selling

Whilst Melbourne’s property market is hot right now, every now and again a single property doesn’t seem to sell. If this is your house, don’t despair. Try asking yourself these three simple questions and you’re likely to find the answer:

1. Is the price right?

The number one determining factor for selling a property is the price tag. If the asking price is too high your property will almost certainly spend more time on the market. While the current market is experiencing high clearance rates, not all properties are selling over the reserve. Personal attachment can sometimes over-inflate the dollar value you place on the house or unit. Ensure you research and compare other similar properties in the nearby area to gauge a realistic figure.

2. Is your property shining?

If attendance numbers are reasonable at open for inspections but you are yet to receive an offer, the presentation could be a problem. Decluttering and keeping personal items to a minimum are ‘no brainers’ but there are also several low-cost improvements you can make that will strengthen your property’s wow factor and make it shine.

Such enhancements could include a fresh coat of paint, carpet cleaning or replacement and a working bee in the garden to really get the exterior neat and tidy. Engaging the services of a property stylist can also be an extremely worthwhile investment if your existing interior décor is a little tired.

3. Are you listening to the experts?

Real estate agents are obliged to provide unbiased and honest feedback about why your property is not selling. Try to keep your own personal opinions out of the picture and listen to the experts. It can often be a minor, simple change to your price, presentation or selling strategy that makes all the difference.